Hi Marso, we can pass all of the Compiler options in this way? (like CBL SSRANGE, TRUNC, OFFSET, LIST, etc.,). I was thinking that we can pass the Compiler options only thru PARM parameter. Also please let me know in how many ways can we pass the Compiler options?

Anything can be passed using PARM option in JCL, Care need to be taken wether it uses the Proc or not,
I am sure you use Proc for compiling, check the step name and give it in step,
FYI: We give PARM.COB=(SSRANGE)

There are only 2 way of passing options to the COBOL compiler.
1-In the JCL, with the PARM= option.
2-In the CBL card, just before the ID DIVISION.
Your shop may use the COBOL default values or set its own default values.

All valid options can be passed using any of the 2 methods.
They are processed in that order (PARM then CBL), and in case of conflict the last one found will be in effect.
This means, for example, if the compilation job contains PARM='NOLIST' you can override it by placing a CBL LIST in your program.

If the COBOL program have sequence numbers, the CBL can start in column 8, otherwise it can start in column 1.
PROCESS can be used instead of CBL, they are synonyms.
And last but not least, as there cannot be continuation line, you can use more than one CBL line:
CBL SSRANGE
CBL VBREF,XREF

I've tried using the SSRANGE compiler option in the cobol program before the id division as advised in this thread but it dint give any abend for me when the array exceeded the max limit. I also tried giving the SSRANGE option along with the other options:

but i got an error in the link edit step of the compile job. I even tried giving PARM=SSRANGE along with the IGYCRCTL step but that too dint give any abend when the array's limit was defaulted while running... Now please clarify as to what needs to be done to stop the array limit from breaching.